After a “record breaking” 3-night run at the Aviva Stadium that left concert goers still trying to ‘Shake Off’ the Taylor Swift effect, the latest Bank of Ireland Spending Pulse analyzing debit and credit card spending reveals the economic impact of her visit.
Analyzing 27th to 30th June card spend versus the weekend before, ‘Swiftonomics’ came to Dublin in full force “with teenage spending (13 – 17-year old’s) rocketing by 63%, whilst outlay amongst 18 – 25-year old’s spiked by 25% and by 30% amongst the 26 – 35 cohort.”
Beauty Spa spending was “up 34% as ‘Swiftie’s’ prepped and preened for their big night out, spending on Spotify streams increased by 20%, and record stores recorded a 19% spending boost.”
Pub and restaurant owners “weren’t scrambling to fill a ‘Blank Space’ either, as total social spending across Dublin (pubs, restaurants, fast food) rose 13% compared to the previous weekend, whilst local analysis of Dublin spending revealed a 38% hike over the 4-day period as revellers flocked to the Eras Tour Official Merchandise Store in the 3Arena.”
Toll fee spending across Ireland’s motorways “spiked by 20% as people travelled from all four corners to see the American songstress, and a busy weekend in the nation’s capital saw outlay on taxis rise by 8% and bus lines recording a 5% increase.”
Owen Clifford, Head of Retail Sector at Bank of Ireland said:
“We have witnessed the impact of ‘Swiftonomic’s across cities worldwide, and Taylor’s Eras Tour coming to Dublin was unlikely to make her an ‘Anti-Hero’ amongst business owners. A capital city event becoming the focus of national attention shows the range of her appeal, and the latest card spending insights reveal that her fans embraced the occasion and splashed out accordingly.”
As noted in the update:
“Spending in central Dublin areas boomed last weekend as Pride revellers and GAA fans also joined the party, with a 144% rise in Dublin 3 social spending catching my eye. Overall, the weekend’s festivities provide a tangible boost to a variety of sectors, and Taylor’s fans can only hope that they won’t have to wait another six years before she writes another Irish-themed ‘Love Story’.”